Long Term Liabilities – Bonds MULTIPLE CHOICE QUESTIONS EXERCISE 1. From the standpoint of the issuing company‚ a disadvantage of using bonds as a means of long-term financing is that a. bond interest is deductible for tax purposes. b. interest must be paid on a periodic basis regardless of earnings. c. income to stockholders may increase as a result of trading on the equity. d. the bondholders do not have voting rights. 2. If a corporation issued $3‚000‚000 in bonds which pay 5% annual interest
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Discuss the criminal liability of Dave for the murder of Edward. (25) I would charge Dave under s18 of OAPA (1861). For a s18 offence‚ there needs to be a Mens Rea of intention where the defendant must see some harm and consequence‚ and the Actus Reus of GBH or Murder. For s18 to be applicable‚ direct intention needs to be proven. When Direct Intention cannot be proven‚ oblique intention (as per Woolin‚ however more recently Matthews and alleyene” is applied‚ which has more criteria. When it
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attaining the majority or knowledge of admission to the benefits of partnership firm. When the minor fails to give such notice within a period of six months‚ automatically he becomes a partner at the end of six months. The minors are having some liabilities after becoming a partner on attaining majority and he becomes personally liable for all the acts of the firm done since the date of his admission. Moreover‚ he can impliedly ratify the acts of the firm done during his minority. When it comes to
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There is no statutory definition of Intention and there is also no agreement in English Law as to the meaning of Intention. Its meaning is to be found in judicial decisions. Unfortunately there has been lack of consistency in the approach of the courts to the issue. The concept of intention and recklessness are distinct with one another. The definition of intention should not overlap with the definition of recklessness. It is generally accepted that it is central and core meaning of intention is
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Explain the legal procedure of showing Dan’s legal liabilities. This Essay will outline the legal procedure surrounding Dan‚ who is on trial for the attempted murder of his girlfriend‚ from the moment a neighbor reported the crime to the police. It will detail the time from the process of this report up to the end of his trial. The first step will be the investigation of the reported offence undertaken by a non legally qualified body‚ the Police. The Police will question the witness‚ Mrs Smith
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Week Two Learning Team Reflection on Personal Liability Law/531 October 2‚ 2012 Week Two Learning Team Reflection on Personal Liability Benefits to Commerce Team C colleagues decided on the following opinions in respect to the advantages of commerce using shareholders and other entities for protection against personal liability losses. Commerce is the buying and selling of goods or services within cities‚ states‚ and globally. The legal structure of a business will establish the liable
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strict liability for some criminal offences? Strict liability offences are offences which do not require proof of mens rea. This means that the prosecution only needs to prove that the defendant voluntarily committed a forbidden act without considering if the defendant had the intention. Strict liability is contained in statutes or statutory instruments‚ and occasionally found in common law. Common law offences of strict liability include criminal libel and blasphemous libel. Also liability is rarely
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3.2.2 Threaten airports and governance’s liability Under radical uncertainty making airports’ governance fully responsible for potential damages seems difficult. In fact‚ their liability depends heavily of how the local and national authorities considered (or consider) the rise of seas associated to climate change. This last one depends on the convergence or the divergence of scientists’ views about a given event (here the strength and the range of the rise of the seas). Case 1: Convergent views
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TREASURER’S DIRECTIONS ACCOUNTING – LIABILITIES Section A3.3 : Provisions STATEMENT OF INTENT Complete and accurate liability information enables an Agency to be fully aware of its financial obligations and the uncertainties expected to affect their ultimate value. This Section explains the requirements for the recognition measurement and disclosure of provisions. MAIN FEATURES Section 38 of the Financial Management Act requires every Accountable Officer and every employee of an Agency
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Contingent Liabilities and Contingent Assets The Standard This standard distinguishes between provisions and contingent liabilities. A provision is included in the statement of financial position at the best estimate of the expenditure required to settle the obligation at the end of the reporting period. A contingent liability is not recognised in the statement of financial position. However‚ unless the possibility of an outflow of economic resources is remote‚ a contingent liability is disclosed
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